- Prior was -0.6%
- Ex autos -1.1% vs -0.4% expected
- Prior ex autos -0.2%
- Control group -0.7% vs -0.3% expected
- Prior control group -0.2%
- Ex autos and gas -0.7% vs -0.2% prior
- Gasoline stations % m/m vs -0.1% prior
- Electronics and appliance stores -1.1% vs -1.5% m/m prior
- Furniture stores -2.5% vs -2.6% m/m prior
- Restaurants 0.0% vs +0.9% m/m prior
This is a disappointing reading but I wonder if the market shrugs it off because of the terrible weather around Boxing Day. That said, there is some evidence the consumer isn't holding up.
In terms of the market, bad news is good news for equities with futures bumping up on this. However bad news is bad news for the US dollar and it's at the lows of the day.
